Allscripts gets $75 million amended and restated revolver

By Sara Rosenberg

New York, Aug. 20 - Allscripts Healthcare Solutions Inc. closed on a $75 million four-year unsecured amended and restated revolving credit facility, according to an 8-K filed with the Securities and Exchange Commission Wednesday.

JPMorgan acted as the lead arranger and administrative agent on the deal that was completed on Aug. 15.

Pricing on the revolver is initially set at Libor plus 162.5 basis points. The spread can range from Libor plus 125 bps to 175 bps based on leverage.

Financial covenants include leverage and coverage ratios.

At the close, $50 million was drawn under the revolver to refinance debt under the company's previous $60 million facility.

The revolver also provides a backstop facility of up to $50 million to be used to fund any repurchases of the company's 3.5% convertible senior debentures arising due to the pending merger with Misys plc.

The backstop, if drawn upon, will amortize in equal quarterly installments and mature on the second anniversary of the draw.

Allscripts is a Chicago-based provider of clinical software, connectivity, and information services for physicians.

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